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Mourant expands in New York

The New York third-party fund administration business of the Jersey-based legal and financial services group Mourant is moving into larger premises for the second time in just over two yea

The New York third-party fund administration business of the Jersey-based legal and financial services group Mourant is moving into larger premises for the second time in just over two years in response to the growth of the business.

After moving into its current location in December 2005, Mourant is relocating to new, larger office space in the same building. All of Mourant’s New York-based team will be located on the 12th floor of the Fisk Building at 250 West 57th Street.

Mourant’s full-service third-party fund administration business provides accounting, reporting, tax compliance, cash management and corporate secretarial services to the private equity and real estate asset classes.

The group administers more than USD100bn in these asset classes through its offices in London, New York, Luxembourg, Jersey, Guernsey and the Cayman Islands, plus a new office recently opened in San Francisco.

Mourant launched its US fund administration division in February 2005, and in its first year of operation the New York office won mandates to administer almost USD4bn in primary funds. Just over a year later, the firm’s under administration have tripled to more than USD12bn and staff numbers have grown from 10 to 35.

Says Steven Davidson, managing director of Mourant’s US fund administration division: ‘We are thrilled with our growth and the need for further space it has caused. This move, and the recent opening of our new office in San Francisco, clearly demonstrates that Mourant is a serious, long-term player in the US fund administration market.

‘We are in a position to offer a broad range of services to fund sponsors in both the US and Europe. We believe our combination of high quality people, client focus, multi-jurisdictional coverage and in-depth experience differentiates us in the market.’

The Mourant group comprises more than 800 people in three business lines serving an international client base consisting of international corporations and high net worth individuals.

Leading offshore law firm Mourant du Feu & Jeune, which has offices in Jersey, Guernsey, the Cayman Islands and London, specialises in the contentious and non-contentious aspects of financial and corporate/commercial law, including capital markets, banking, funds, property finance, structured finance and trusts.

Mourant International Finance Administration is a leading international provider of fund and corporate administration services with more than USD250bn under administration and offices in London, New York, Luxembourg, Jersey, Guernsey, Grand Cayman and San Francisco, while Mourant Private Wealth offers lawyer-led independent wealth structuring for clients with the most exacting standards.

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